City Council

15. FINANCE COMMITTEE: ADOPTION OF THE FISCAL YEAR 2024 (FY2024) RECOMMENDED OPERATING BUDGET OF THE RENT STABILIZATION DEPARTMENT (Rent Stabilization Dept.) Recommendation: It is recommended that the City Council: (1) Find that the proposed action in the agenda report is exempt from the California Environmental Quality Act ("CEQA") pursuant to State CEQA Guidelines Section 15061(b)(3) “Common Sense” exemption; and (2) Adopt the FY2024 Recommended Operating Budget of $2,876,232 for the Rent Stabilization Department, inclusive of the previously appropriated $600,000, and 12.0 FTE positions as detailed in the agenda report. Due to the anticipated delay in billing the FY2024 Rental Housing Fee, a temporary negative cash position for the department is acknowledged as described in the agenda report.